China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
- The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
- The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Economy
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...
- Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
- A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds
Economy
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
- The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
- The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
Economy
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...
- While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study by Kearney
- With only a third of companies seeking external insights, there's a clear opportunity for enhanced collaboration and knowledge-sharing, the report points out
Geostrategy
China rejects US disinformation accusations, calls Washington ’empire of lies’
Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State...
- The report, released Thursday by the US State Department's Global Engagement Center, accused China of financing propaganda, disinformation.
- "It is the U.S. that invented the weaponizing of the global information space," a Chinese foreign ministry spokesperson said in a statement.
Geostrategy
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
- The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
- It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy
IMF approves $1.3bn for Morocco to help transition to a greener economy
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
- The arrangement will help Morocco strengthen its preparedness and resilience against natural disasters, including from climate change.
- The 18-months arrangement, "Will help Morocco address climate vulnerabilities, bolster its resilience against climate change,” the IMF said.
Geostrategy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
- Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
- The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.
Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims
Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...
- Under the new regulations, the licenses will be valid for a period of five years, and the estimated fee 100,000 Saudi riyals
- To qualify for these licenses, companies must possess a valid trade register and have a minimum capital of 500,000 Saudi riyals
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
Economy
Company News
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WTO agri reforms key to global food and climate goals
"Australia maintains that global food security, climate, and biodiversity targets are unattainable without progress in agricultural trade reform, including the...
Economy
Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh
Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters...
Business
UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...
Economy
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Economy
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
- The roadmap emphasizes the importance of aligning national efforts and creating partnerships to boost the UAE’s media sector.
- It aims to develop a media industry that embraces global cultures, driven by innovation and youth leadership.
Israel minister says Arab trade ties unfazed by Gaza war
In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while...
- When asked about Israel's economic losses due to the war, Barkat said it could add "anywhere between 150 to 200 billion shekels ($42-55 billion)" to the country's national debt
- Barkat said Gaza war could help Israel boost sales of military technology, noting there is "high interest" from many countries, without specifying if Arab states were among them
Economy
Geopolitical risks, sanctions keep commodity markets on edge
Istanbul, Turkey--The commodity markets saw supply concerns and rises by optimism from China, despite the negative impact of the Fed's...
- The report said many participants emphasized the risks of moving too quickly and noted the importance of carefully assessing incoming data
- The recent data revealing a weakening demand in the US restricted the rise in oil prices, as the crude oil stocks in the country increased by 7.1m barrels